The White House is ready to pressurize the US trading partners to sign new tariff deals this week, with expectation that they will be finalized before Wednesday’s deadline.
The Trump administration is expected to send dozens of letters to those countries who have not signed a business deal, warning that high tariffs can kick in August 1, Kevin Hassette and Treasury Secretary Scott Bassant said on Sunday.
“Our small trading partners can become very large business partners,” Haset said “face the nation with Margaret Brainon.” “And this, I think, one of the reasons is that countries are running to install deal with us before the deadline.”
Going out of 15 letters starting on Monday, President Trump on Sunday confirmed reporters before going back to the White House from his New Jersey Club. Some will go out on Tuesdays and Wednesdays, saying “some deals have been done.”
Commerce Secretary Howard Lutnik also told reporters on Sunday that high tariffs could be kicked for countries that do not make a deal until Wednesday.
There are questions about which countries will be informed, whether anything will change in the coming days and whether Mr. Trump will push from applying the rates once more.
In an interview with CNN on Sunday, Besent said that about 100 letters would be sent to small countries “where we do not have much business” and where tariffs are already on baseline of 10%. The Treasury Secretary also said that the administration mainly focuses on the largest trade deficit nations with the US.
“There are 18 important trading relations that are 95% of our deficit, and are what we are focused,” Besent said.
Treasury Secretary Scott Besent dismissed the idea that August 1 was a new deadline and refused to say what could happen on Wednesday.
“We will see,” Bessent said on the State of the Union of CNN. “I’m not going to remove the playbook.”
Mr. Trump and his top trade advisors say that they can extend time to deal but they insist that the administration is putting maximum pressure on other countries. Haset said that Trump would decide when is the time to leave the conversation.
Stephen Miran, president of the White House Council of Economic Advisors, said that it was said in a similar manner that they are interacting in good faith and can give concessions, “Like, like, may, rolled the date.”
Stator tariff Trump announced on 2 April that threatened to overhala the global economy and give rise to comprehensive trade wars. A week later, after Financial markets were nervousHis administration was suspended for most high taxes on imports for 90 days, as they were effective, but they kept the 10% base line by increasing the tariff rate on goods imported from China. Chinese goods are now subject to 30% of the entire board tariff.
Freeze Taking us tariff On Wednesday, July 9, ready to end, White House
In recent weeks like China, UK and Vietnam, new trade agreements have been postponed with countries, But other deals are yet to be announced in the week.
Besant said that the US was “close to many deals”, and predicted many big announcements over the next few days. He did not give any details.
“I think we are going to see a lot of deals very soon,” said Besent.
Given the complexity of trade deals, some experts feel that America is likely to expand tariff stagnation for some countries.
“It can take too much time [than 90 days] In fact, to iron these things, “Clarke Pacord, a business policy specialist and research fellow in the Cato Institute, a Nonpartison Public Policy Think Tank, CBS News’ told Manivatch,
Sri Trump last week Announced a deal with VietnamUnder the terms of the agreement, Mr. Trump Said The US will take 20% tariff on goods imported into the US from Vietnam, and will have 40% tariff on “any transmission”. The President said that Vietnam “will open its market to the United States, ‘means that, we will be able to sell our product in zero tariffs in Vietnam.”
This was a decline from 46% tax on the proposed Vietnamese imports in April-one of his so-called “mutual tariffs” targets dozens of countries with which the US runs a trade deficit.
Asked if they expect to reach deals European Union Or India, Trump said on Friday that “letters are better for us” because it includes many countries.
“We are coming to India and with Vietnam, we did so, but it is very easy to send a letter, ‘Listen, we know that we have a certain deficit, or in some cases a surplus, but not too much. And not too much. And this is what you have to pay if you want to trade in the United States.”
Canada, however, would not be one of the letters receiving letters, Trump’s ambassador, Pete Hocastra recently resumed after trade talks between the two countries on Friday.
“Canada is one of our biggest trading partners,” Hocastra told CTV News in an interview in Ottawa. “We are going to do a deal which is clear.”
Canadian Prime Minister Mark Carney has said that he wants a new deal by July 21 or will increase the Canada trade counterers.
Hocastra would not be committed to the date for a business agreement and also said with a deal, Canada can still withstand some tariffs. But “We are not just going to send a letter to Canada,” he said.
